Official Trump (TRUMP) Rises 10% After POTUS Alien Disclosure: Details Here

At one point, TRUMP’s market capitalization reached the psychological mark of $1 billion.

Several memes related to Trump resurfaced significantly on Friday, following an interesting announcement made by the President of the United States.

However, the stock lost almost all gains in the following hours, perhaps due to Trump’s defeat in the US Supreme Court.

The Trump Effect or Just an Accident?

Official Trump (TRUMP) — the largest POTUS-related meme coin — jumped to nearly $3.80 on Friday, its highest level since early February. Its market capitalization is close to $900 million, making it the sixth largest meme.

Other Trump-themed tokens, including Pepe Trump (PTRUMP), Super Trump (STRUMP), and SUI TRUMP (SUITRUMP), are also heading north, albeit charting modest gains.

Their renewal coincides with the president’s promise to direct the Secretary of War and other relevant departments to begin identifying and releasing government files related to foreign and immigration life. The topic has long been of interest to the public, but a recent podcast featuring former US leader Barack Obama has garnered even more attention.

When asked about the presence of immigrants, he confirmed that they were there but clarified that he had never seen it for himself. In addition, Obama said that they are not being kept at the infamous Area 51 “unless there is this great conspiracy and they are hiding from the president of the United States.”

It’s important to note that Trump’s pledge in that case may not be the only factor fueling the resurgence of the aforementioned meme coins. The broader cryptocurrency market, where Bitcoin (BTC) and many altcoins have seen small increases in the past 24 hours, could also have played a role.

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What’s Next?

Some analysts at X noted TRUMP’s latest pump, suggesting he may have more fuel left for more gains. An analyst who goes by the moniker Don said the meme coin “looks good,” pointing out that its price structure indicates a potential $13.29.

However, investors and traders should be very careful when dealing with such assets due to their notorious volatility. TRUMP, which saw the light of day in January of last year, initially exploded above $70 but crashed in the double digits a few days later.

The Relative Strength Index (RSI) of the asset also indicates a possible correction ahead. The technical analysis tool measures the speed and magnitude of recent price changes and gives traders an idea of ​​potential reversal points. It ranges from 0 to 100, with ratings around and above 70 suggesting that the token is overbought and due to a pullback. On the other hand, anything below 30 is considered a buying opportunity. Currently, the RSI is standing just south of the bearish zone.